Sweeping are the changes coming to DEKO, in accordance with the provisions of the new bill of the Ministry of National Economy and Financewhich was presented at noon on Tuesday by Kostis Hatzidakis.

In particular, according to her report Elena Laskari for his television SKYfor ELTA and them transportation DEKOs (buses, metro, trains) a PPC model is provided. This means changes to the way management is recruited, as the doors are opened to the private sector, and union representation on disciplinary boards is to be abolished.

As for the feesthe uniform payroll is abolished, while there will be higher wages, the role of ASEP is limited in procurement and recruitment, with the aim of making them easier and faster.

The bill also provides for the creation of a national investment fund.

As Mr. Hatzidakis pointed out, these changes are expected to stimulate the rate of growth of the Greek economy, but above all to improve the quality of services provided to citizens.

The four axes

In more detail, the Ministry of National Economy and Finance will move in four directions to change the image of the Superfund and its greater contribution to the development of the economy, as well as for the DEKOs supervised by the Superfund, in order, among other things, to become more friendly to citizens. The entire plan of the ministry includes the creation of the National Investment Fund, as well as the better utilization of ETAD properties.

Minister Kostis Hatzidakis announced, at a press conference, that the four axes are as follows:

1. A more modern governance model of the Superfund.

2. Absorption by the Superfund of TAIPED and THF.

3. National Investment Fund.

4. PPC model in DEKOs supervised by the Superfund.

Particularly:

In the first axis, the role of the Supervisory Board of the Superfund, renamed the Corporate Governance Board, is limited. The board of directors will be responsible for day-to-day life, where the representation of the State will also change. From now on, a general secretary from the Ministry of Finance, a deputy governor from the Bank of Greece and the general director of ODDHI will participate (the participation of the two foreigners remains the same).

In the second axis, until December 31 of this year, TAIPED (by decisions of the general meetings of Superfund and TAIPED) and the HFSF (by ministerial decision) will be absorbed into the Superfund. Employees can, if they wish, continue in the Super Fund. The structures and organs of the absorbed will be decided later. The TAIPED Project Maturation Unit is not affected by the absorption.

According to the minister, although the HFSF has statutory authority until 31/12/2025, it has already implemented 90% of its purpose. There remain 18% of National Bank and the outstanding balance of Attica Bank, which will be closed by the end of this year.

Also, TAIPED has successfully completed its work, in addition to DEPA Emporias and Hellenic Energy, as well as some regional ports and regional plots.

In the third axis, the National Investment Fund will be a Sovereign Fund and will have a “dowry” of 300 million euros. As, in agreement with the ESM, EYDAP and EYATH were valued at approximately 600 million euros. Of these, 300 million euros will go to reduce the public debt and the rest to the new Fund. A proposal for its better operation will be made by Black Rock, while its administrative unit will be chosen by the Superfund.

The purpose will be to have a modern investment plan in dynamic and extroverted sectors of the economy. It will be medium-scale investments, for example in green transition, circular and blue economy, technological infrastructures etc. and will not compete with the former TANEO. His participations will be in the minority.

Other investors will be able to participate in the investments of the new Fund (there has already been interest from the EIB), and, subject to conditions, third parties from other Sovereign Funds, from European or Arab countries.

The fourth axis concerns the following DEKOs supervised by the Superfund: OASA Group and its subsidiaries OSY and STASY, ELTA and its subsidiaries, HELEXPO TEF, Organization of the Central Market of Athens (OKAA) in Rentis, Hellenic Salts and Corinth Canal.

Executives from the private sector will also be attracted, with terms of office for two 4-year terms and with decisions on the hiring process by the CEO of each company. The role of ASEP is limited, which will simply check within 10 days the legality of the notice, as is the case with PPC. The salaries for ELTA executives are liberalized, also according to PPC’s model, where the Superfund and the administrations will decide. For the other bodies within the General Government (communications, GAIAOSE, etc.) the “EFKA model” will be followed and the salary will remain as it is today. Finally, the representation of trade unionists in disciplinary councils will cease.

Procurement will become more flexible. The regulation will be submitted to EADISY, which will be able to express an opinion within 60 days.

For ETAD, it is proceeding in collaboration with the Superfund, in the mapping of 36,000 properties. Subsequently, 6,000 properties will be assessed and 1,000 of them will be included in the immediate maturation and utilization plan. The exploitation will not be done for each property separately, but for different “packages” and the investors will acquire the management and administration.

At the same time, an agreement is signed between ETAD and Superfund for the utilization of the properties based on the expertise of TAIPED. The first move will concern the utilization of the TAE KWO DO field in Faliro, where a new competition will be announced.